DFM welcomes the listing of Bahrain’s Khaleeji Commercial Bank

Dubai Financial Market (DFM) today announced the listing of Bahrain’s Khaleeji Commercial Bank (KHCB), one of the leading Islamic financial institutions in the Kingdom of Bahrain, as trading commenced on the bank’s shares under the trading symbol (KHCB), which appears on DFM screens, trading system and publications within the Banking Sector.

This listing further strengthens the prominent position of DFM as the most favored listing venue for leading local and regional companies and lifts the total number of listed companies to 64. It also lifts number of Dual listings to 14 including four Bahraini companies.

Mr. Abdulkarim Ahmed Bucheery, Vice Chairman of the bank rang the market-opening bell in the presence of His Excellency Essa Kazim, Chairman of DFM, Shaikh Khalifa bin Ebrahim Al-Khalifa, CEO of Bahrain Bourse and senior representatives from both sides.

Commenting on this development, H.E. Essa Kazim said:

DFM is constantly endeavours to diversify the range of investment opportunities offered to its enormous investor base by encouraging and partnering with companies from various sectors across the region to benefit from listing on the region’s leading stock exchange. Today, we are delighted to welcome the listing of Khaleeji Commercial Bank on DFM, which underlines the strong ties between the United Arab Emirates and the Kingdom of Bahrain and represents a strong addition to the Banking sector on our market, providing investors with new investment opportunities. The listing also reinforces DFM’s position as the market of choice for companies seeking Dual listing in a clear indication on businesses’ high level of confidence in our exchange due its world-class infrastructure, enormous and diversified investor base and innovative issuer services. These factors further strengthened DFM’s leading position as most favoured listing venue for companies from the UAE and across the region and fortifies Dubai’s position as an international financial hub.

Within this context, Dr. Ahmed Al Mutawa stated:

We are pleased to have the opportunity for investors to trade KHCB’s shares on the DFM. The speed and smoothness of the listing process reflects how developed the related procedures are. We would like to thank CBB, the Emirates Securities and Commodities Authority, Bahrain Bourse and the DFM on this occasion for their contributing role in the development of the financial markets in the Kingdom of Bahrain and the UAE, as well as the great support they provided to KHCB during the listing process.

He continued saying:

DFM’s leading position in the region’s financial markets is characterised by its advanced legislative and technical environment, both for companies and investors. The listing of KHCB’s shares in the DFM achieves a number of economic objectives for both the shareholders and investors, offering new investment opportunities that were previously unavailable in the market and maintaining the bank’s leading position, contributing to the development of its services and products.

Dr. Al Mutawa also affirmed that the listing of KHCB’s shares in the DFM corresponds with the bank’s continuous growth and keenness to expand its business and sustainability since its inception. This listing also falls under the framework of transparency, which is one of the most important values to which the bank is committed to.

He concluded saying:

This is a historic day that we are proud of, aspiring for it to bridge further development to achieve the best for all shareholders in the bank; especially since we are working to attain the optimal balance between the bank’s growth and its revenues by focusing on several primary sectors, thanks to our unique expertise, competencies, innovative procedures and products, combined with a distinguished approach that ensures a positive and sustainable impact on the communities in which we operate.

It is noteworthy that this is the third listing on DFM since the beginning of 2017 after the listing of both Emaar Development and Orient UNB Takaful.

Read Also: